Zai Lab (NASDAQ:ZLAB) Insider Sells $61,697.65 in Stock

Key Points

• Insider sale: Joshua Smiley sold 3,017 shares at an average price of $20.45 for $61,697.65 on April 6 to cover tax withholding on vested equity, leaving him with 117,602 shares (a 2.5% ownership decrease).
• Company performance: ZLAB trades around $21.39 with a $2.41 billion market cap, but is currently unprofitable—reporting negative EPS, ROE and net margin—and analysts forecast about -2.58 EPS for the year.
• Market sentiment and ownership: Institutional ownership is about 41.65% (SG Americas recently acquired ~9,754 shares), while analysts are mixed but the consensus rating is "Moderate Buy" with a $50 average target.

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) insider Joshua Smiley sold 3,017 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $20.45, for a total value of $61,697.65. Following the sale, the insider owned 117,602 shares of the company's stock, valued at $2,404,960.90. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zai Lab Stock Performance

ZLAB stock traded up $0.39 during trading on Wednesday, hitting $21.39. 1,059,583 shares of the company traded hands, compared to its average volume of 745,229. Zai Lab Limited Unsponsored ADR has a 1 year low of $15.96 and a 1 year high of $44.34. The company has a 50-day moving average of $18.89 and a 200-day moving average of $21.51. The firm has a market capitalization of $2.41 billion, a PE ratio of -13.29 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The business had revenue of $127.60 million during the quarter. Sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Zai Lab stock. SG Americas Securities LLC acquired a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,754 shares of the company's stock, valued at approximately $331,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ZLAB. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zai Lab in a report on Wednesday, January 21st. Cantor Fitzgerald dropped their price objective on Zai Lab from $55.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Zacks Research lowered Zai Lab from a "hold" rating to a "strong sell" rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. decreased their target price on Zai Lab from $39.00 to $32.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. Finally, UBS Group assumed coverage on Zai Lab in a research report on Wednesday, January 7th. They issued a "buy" rating and a $35.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

About Zai Lab

Zai Lab Ltd NASDAQ: ZLAB is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company's end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company's marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton's tyrosine kinase inhibitor approved for several B-cell malignancies.

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